Diagnostic Electrocardiograph (ECG) Market by Product (Resting ECG, Stress, Mobile Cardiac Telemetry Device, Implantable Loop Recorder) and Service, Lead Type (12-lead, 6-lead, 5- lead), End User, and Region - Global Forecast to 2028
The global diagnostic electrocardiogram (ECG) market is projected to reach USD 11.3 billion by 2028 from USD 8.1 billion in 2023, at a CAGR of 6.9% during the forecast period. The rising prevalence of cardiovascular and lifestyle diseases, growing demand for early cardiac diseases diagnosis , technological advancements in wearable ECG devices, increasing proportion of aging population, increasing healthcare infrastructure and growing geographical presence of diagnostic ECG manufacturers globally.
“Resting ECG Devices segment to dominate diagnostic electrocardiogram (ECG) market during the forecast period.”
Based on product type, the diagnostic ECG market is segmented into devices and software & Services . The devices segment is categorized into resting ECG devices, stress ECG devices, Holter monitors, event monitors, implantable loop recorders, mobile cardiac telemetry devices, and smart ECG devices. The resting ECG devices segment captured the largest share of diagnostic ECG market in 2022 attributed to the increasing availability of cost effective resting ECG devices and wider adoption of resting ECG devices in hospital settings.
“12 lead , by lead type , accounted for the largest market share of global diagnostic electrocardiogram (ECG) market in 2022.”
Based on lead type, the diagnostic electrocardiogram (ECG) market is segmented into patch type 12-lead, 5-lead, 3-lead, 6-lead, single lead, and other lead types (such as 13 lead, 18- lead). In 2022, the 12-lead segment accounted for the largest share of the diagnostic ECG market. This is mainly attributed to higher clarity obtained by using a larger number of leads; 12-lead ECG devices provide a highly detailed outlook, making it easier to interpret cardiac electrical activity.
“The hospitals, clinics, and cardiac centers to dominate the global electrocardiogram ECG market in 2022.”
Based on end user, the diagnostic electrocardiogram (ECG) market is segmented into hospitals, clinics, and Cardiac Centers, ambulatory surgical centers, and other end users. The hospitals, clinics, and Cardiac Centers segment accounted for the largest share of the global market in 2022 attributed to the increasing prevalence of cardiovascular diseases, establishment of cardiac centers, and increasing government funding to expand and improve the services offered by hospitals.
“The APAC market, by region, to register highest growth rate in the forecast period.”
On the basis of region, the diagnostic electrocardiogram (ECG) market is segmented into North America, Europe, Asia Pacific, and the Rest of the World. North America holds the largest share and expects to dominate the diagnostic ECG market. The Asia-Pacific market is likely witnessing significant growth owing to increase in disposable income and increase in cardiovascular patient pool. Rising penetration of advanced diagnostic ECG in hospitals, and growing healthcare expenditure
A breakdown of the primary participants referred to for this report is provided below:
Research Coverage
This report studies the diagnostic electrocardiogram (ECG) market based on product type, lead type, end-user, and region. It also covers the factors affecting market growth, analyzes the various opportunities and challenges in the market, and provides details of the competitive landscape for market leaders. Furthermore, the report analyzes micro markets with respect to their individual growth trends and forecasts the revenue of the market segments with respect to four main regions (and the respective countries in these regions).
Reasons to Buy the Report
The report will enable established firms as well as entrants/smaller firms to gauge the pulse of the market, which, in turn, would help them to garner a larger market share. Firms purchasing the report could use one or a combination of the below-mentioned strategies to strengthen their market presence.
This report provides insights on the following pointers:
“Resting ECG Devices segment to dominate diagnostic electrocardiogram (ECG) market during the forecast period.”
Based on product type, the diagnostic ECG market is segmented into devices and software & Services . The devices segment is categorized into resting ECG devices, stress ECG devices, Holter monitors, event monitors, implantable loop recorders, mobile cardiac telemetry devices, and smart ECG devices. The resting ECG devices segment captured the largest share of diagnostic ECG market in 2022 attributed to the increasing availability of cost effective resting ECG devices and wider adoption of resting ECG devices in hospital settings.
“12 lead , by lead type , accounted for the largest market share of global diagnostic electrocardiogram (ECG) market in 2022.”
Based on lead type, the diagnostic electrocardiogram (ECG) market is segmented into patch type 12-lead, 5-lead, 3-lead, 6-lead, single lead, and other lead types (such as 13 lead, 18- lead). In 2022, the 12-lead segment accounted for the largest share of the diagnostic ECG market. This is mainly attributed to higher clarity obtained by using a larger number of leads; 12-lead ECG devices provide a highly detailed outlook, making it easier to interpret cardiac electrical activity.
“The hospitals, clinics, and cardiac centers to dominate the global electrocardiogram ECG market in 2022.”
Based on end user, the diagnostic electrocardiogram (ECG) market is segmented into hospitals, clinics, and Cardiac Centers, ambulatory surgical centers, and other end users. The hospitals, clinics, and Cardiac Centers segment accounted for the largest share of the global market in 2022 attributed to the increasing prevalence of cardiovascular diseases, establishment of cardiac centers, and increasing government funding to expand and improve the services offered by hospitals.
“The APAC market, by region, to register highest growth rate in the forecast period.”
On the basis of region, the diagnostic electrocardiogram (ECG) market is segmented into North America, Europe, Asia Pacific, and the Rest of the World. North America holds the largest share and expects to dominate the diagnostic ECG market. The Asia-Pacific market is likely witnessing significant growth owing to increase in disposable income and increase in cardiovascular patient pool. Rising penetration of advanced diagnostic ECG in hospitals, and growing healthcare expenditure
A breakdown of the primary participants referred to for this report is provided below:
- By Company Type: Tier 1–48%, Tier 2–36%, and Tier 3– 16%
- By Designation: C-level–10%, Director-level–14%, and Others–76%
- By Region: North America–40%, Europe–32%, Asia Pacific–20%, Latin America–5%, MEA- 3%
Research Coverage
This report studies the diagnostic electrocardiogram (ECG) market based on product type, lead type, end-user, and region. It also covers the factors affecting market growth, analyzes the various opportunities and challenges in the market, and provides details of the competitive landscape for market leaders. Furthermore, the report analyzes micro markets with respect to their individual growth trends and forecasts the revenue of the market segments with respect to four main regions (and the respective countries in these regions).
Reasons to Buy the Report
The report will enable established firms as well as entrants/smaller firms to gauge the pulse of the market, which, in turn, would help them to garner a larger market share. Firms purchasing the report could use one or a combination of the below-mentioned strategies to strengthen their market presence.
This report provides insights on the following pointers:
- Analysis of key drivers ( rising prevalence of cardiovascular diseases, increasing geriatric population growing demand for remote monitoring, technological advancements in wireless ECG devices ) restraints (stringent regulatory approvals delaying the approval of diagnosis ECG devices ), opportunities (rising healthcare expenditure across developing countries, high growth offered by emerging markets), and challenges (lack of skilled professional) influencing the growth of diagnostic electrocardiogram (ECG) market
- Market Penetration: Comprehensive information on the product portfolios offered by the top players in the diagnostic electrocardiogram (ECG) market
- Product Development/Innovation: Detailed insights on the upcoming trends, R&D activities, and product launches in the diagnostic electrocardiogram (ECG) market
- Market Development: Comprehensive information on lucrative emerging regions
- Market Diversification: Exhaustive information about new products, growing geographies, and recent developments in the diagnostic electrocardiogram (ECG) market
- Competitive Assessment: In-depth assessment of market segments, growth strategies, revenue analysis, and products of the leading market players.
1 INTRODUCTION
1.1 STUDY OBJECTIVES
1.2 MARKET DEFINITION
1.2.1 INCLUSIONS & EXCLUSIONS
1.3 STUDY SCOPE
FIGURE 1 MARKETS COVERED
1.3.1 GEOGRAPHIC SCOPE
1.3.2 YEARS CONSIDERED
1.4 CURRENCY CONSIDERED
1.5 KEY MARKET STAKEHOLDERS
1.6 SUMMARY OF CHANGES
1.7 RECESSION IMPACT ON DIAGNOSTIC ECG MARKET
2 RESEARCH METHODOLOGY
2.1 RESEARCH DATA
FIGURE 2 RESEARCH DESIGN
2.1.1 SECONDARY DATA
2.1.2 PRIMARY RESEARCH
2.1.2.1 Key data from primary sources
FIGURE 3 BREAKDOWN OF PRIMARY INTERVIEWS: SUPPLY-SIDE AND DEMAND-SIDE PARTICIPANTS
FIGURE 4 DIAGNOSTIC ECG MARKET: BREAKDOWN OF PRIMARIES
2.2 MARKET SIZE ESTIMATION METHODOLOGY
FIGURE 5 RESEARCH METHODOLOGY: HYPOTHESIS BUILDING
2.2.1 PRODUCT-BASED MARKET ESTIMATION
2.2.2 END USER-BASED MARKET ESTIMATION
FIGURE 6 MARKET SIZE ESTIMATION: DIAGNOSTIC ECG MARKET
2.2.3 PRIMARY RESEARCH VALIDATION
2.3 DATA TRIANGULATION
FIGURE 7 DATA TRIANGULATION METHODOLOGY
2.4 RESEARCH ASSUMPTIONS AND LIMITATIONS
2.4.1 RESEARCH ASSUMPTIONS
2.4.2 RESEARCH LIMITATIONS
2.5 RECESSION IMPACT
TABLE 1 GLOBAL INFLATION RATE PROJECTIONS, 2021–2027 (% GROWTH)
3 EXECUTIVE SUMMARY
FIGURE 8 DIAGNOSTIC ECG MARKET, BY PRODUCT, 2023 VS. 2028 (USD MILLION)
FIGURE 9 DIAGNOSTIC ECG MARKET, BY LEAD TYPE, 2023 VS. 2028 (USD MILLION)
FIGURE 10 DIAGNOSTIC ECG MARKET, BY END USER, 2023 VS. 2028 (USD MILLION)
FIGURE 11 GEOGRAPHICAL SNAPSHOT OF DIAGNOSTIC ECG MARKET
4 PREMIUM INSIGHTS
4.1 DIAGNOSTIC ECG MARKET OVERVIEW
FIGURE 12 INCREASING PREVALENCE OF CVD GLOBALLY TO DRIVE MARKET GROWTH
4.2 NORTH AMERICA: DIAGNOSTIC ECG MARKET SHARE, BY PRODUCT & COUNTRY (2022)
FIGURE 13 DEVICES SEGMENT ACCOUNTED FOR LARGEST SHARE OF NORTH AMERICAN DIAGNOSTIC ECG MARKET IN 2022
4.3 DIAGNOSTIC ECG DEVICES MARKET SHARE, BY TYPE, 2023 VS. 2028
FIGURE 14 RESTING ECG DEVICES TO CAPTURE LARGEST SHARE OF DIAGNOSTIC ECG DEVICES MARKET IN 2022
4.4 DIAGNOSTIC ECG MARKET, BY LEAD TYPE, 2023 VS. 2028 (USD MILLION)
FIGURE 15 12-LEAD ECG DEVICES SEGMENT TO CONTINUE TO DOMINATE MARKET IN 2028
4.5 DIAGNOSTIC ECG MARKET, BY END USER, 2023 VS. 2028 (USD MILLION)
FIGURE 16 HOSPITALS, CLINICS, AND CARDIAC CENTERS SEGMENT TO DOMINATE MARKET IN 2028
4.6 DIAGNOSTIC ECG MARKET: GEOGRAPHIC GROWTH OPPORTUNITIES
FIGURE 17 CHINA TO REGISTER HIGHEST GROWTH IN DIAGNOSTIC ECG MARKET FROM 2023 TO 2028
5 MARKET OVERVIEW
5.1 INTRODUCTION
5.2 MARKET DYNAMICS
FIGURE 18 DIAGNOSTIC ECG MARKET: DRIVERS, RESTRAINTS, OPPORTUNITIES, AND CHALLENGES
5.2.1 DRIVERS
5.2.1.1 Increasing incidence of lifestyle and cardiovascular diseases
5.2.1.2 Rapidly expanding global geriatric population and subsequent surge in heart conditions
5.2.1.3 Development of wireless monitoring and wearable cardiac devices
5.2.1.4 Increasing investments, funds, and grants for research on cardiac diagnosis
5.2.2 RESTRAINTS
5.2.2.1 Stringent regulatory requirements delaying approval of cardiac devices
5.2.3 OPPORTUNITIES
5.2.3.1 Emerging markets to offer high-growth opportunities
5.2.4 CHALLENGES
5.2.4.1 Dearth of skilled professionals
5.3 PRICING ANALYSIS
TABLE 2 AVERAGE SELLING PRICE OF DIAGNOSTIC ECG MONITORING PRODUCTS (2022)
5.4 PATENT ANALYSIS
FIGURE 19 PATENT ANALYSIS FOR DIAGNOSTIC ECG MARKET
5.5 VALUE CHAIN ANALYSIS
FIGURE 20 VALUE CHAIN ANALYSIS OF DIAGNOSTIC ECG MARKET: MAJOR VALUE ADDED DURING MANUFACTURING AND ASSEMBLY PHASES
5.6 SUPPLY CHAIN ANALYSIS
FIGURE 21 DIAGNOSTIC ECG MARKET: SUPPLY CHAIN ANALYSIS
5.7 ECOSYSTEM ANALYSIS
FIGURE 22 DIAGNOSTIC ECG MARKET: ECOSYSTEM ANALYSIS
5.8 PORTER’S FIVE FORCES ANALYSIS
TABLE 3 DIAGNOSTIC ECG MARKET: PORTER’S FIVE FORCES ANALYSIS
5.8.1 THREAT OF NEW ENTRANTS
5.8.2 THREAT OF SUBSTITUTES
5.8.3 BARGAINING POWER OF BUYERS
5.8.4 BARGAINING POWER OF SUPPLIERS
5.8.5 INTENSITY OF COMPETITIVE RIVALRY
5.9 REIMBURSEMENT SCENARIO
TABLE 4 CPT CODES FOR ECG PROCEDURES
5.10 REGULATORY ANALYSIS
TABLE 5 NORTH AMERICA: REGULATORY BODIES, GOVERNMENT AGENCIES, AND OTHER ORGANIZATIONS
TABLE 6 EUROPE: REGULATORY BODIES, GOVERNMENT AGENCIES, AND OTHER ORGANIZATIONS
TABLE 7 ASIA PACIFIC: REGULATORY BODIES, GOVERNMENT AGENCIES, AND OTHER ORGANIZATIONS
TABLE 8 LATIN AMERICA: REGULATORY BODIES, GOVERNMENT AGENCIES, AND OTHER ORGANIZATIONS
TABLE 9 REST OF THE WORLD: REGULATORY BODIES, GOVERNMENT AGENCIES, AND OTHER ORGANIZATIONS
5.10.1 NORTH AMERICA
5.10.1.1 US
5.10.1.2 Canada
5.10.2 EUROPE
5.10.3 ASIA PACIFIC
5.10.3.1 China
5.10.3.2 Japan
5.10.3.3 India
5.10.4 LATIN AMERICA
5.10.4.1 Brazil
5.10.4.2 Mexico
5.10.5 MIDDLE EAST
5.10.6 AFRICA
5.11 TRADE ANALYSIS
5.11.1 TRADE ANALYSIS FOR DIAGNOSTIC ECG PRODUCTS
TABLE 10 IMPORT DATA FOR DIAGNOSTIC ECG PRODUCTS, BY COUNTRY, 2018–2022 (USD MILLION)
TABLE 11 EXPORT DATA FOR DIAGNOSTIC ECG PRODUCTS, BY COUNTRY, 2018–2022 (USD MILLION)
5.12 TECHNOLOGY ANALYSIS
5.13 KEY CONFERENCES & EVENTS, 2023–2024
TABLE 12 DIAGNOSTIC ECG MARKET: DETAILED LIST OF CONFERENCES & EVENTS
5.14 TRENDS/DISRUPTIONS IMPACTING CUSTOMERS’ BUSINESSES
5.14.1 REVENUE SHIFT AND REVENUE POCKETS FOR DIAGNOSTIC ECG MONITOR MANUFACTURERS
FIGURE 23 REVENUE SHIFT IN DIAGNOSTIC ECG MARKET
5.15 KEY STAKEHOLDERS & BUYING CRITERIA
5.15.1 KEY STAKEHOLDERS IN BUYING PROCESS
FIGURE 24 INFLUENCE OF STAKEHOLDERS ON BUYING PROCESS FOR DIAGNOSTIC ECG PRODUCTS
TABLE 13 INFLUENCE OF STAKEHOLDERS ON BUYING PROCESS FOR DIAGNOSTIC ECG PRODUCTS
5.15.2 BUYING CRITERIA
FIGURE 25 KEY BUYING CRITERIA FOR DIAGNOSTIC ECG PRODUCTS
TABLE 14 KEY BUYING CRITERIA FOR DIAGNOSTIC ECG PRODUCTS
6 DIAGNOSTIC ECG MARKET, BY PRODUCT
6.1 INTRODUCTION
TABLE 15 DIAGNOSTIC ECG MARKET, BY PRODUCT, 2021–2028 (USD MILLION)
6.2 DEVICES
TABLE 16 DIAGNOSTIC ECG DEVICES MARKET, BY TYPE, 2021–2028 (USD MILLION)
6.2.1 RESTING ECG DEVICES
6.2.1.1 Wide availability of resting ECG devices to support market growth
TABLE 17 RESTING ECG DEVICES MARKET, BY REGION, 2021–2028 (USD MILLION)
6.2.2 STRESS ECG DEVICES
6.2.2.1 High cost of stress ECG devices to limit adoption
TABLE 18 STRESS ECG DEVICES MARKET, BY REGION, 2021–2028 (USD MILLION)
6.2.3 HOLTER MONITORS
6.2.3.1 Growing demand for continuous monitoring to fuel growth
TABLE 19 HOLTER MONITORS MARKET, BY REGION, 2021–2028 (USD MILLION)
6.2.4 EVENT MONITORS
6.2.4.1 Increasing outsourcing of monitoring devices to propel market growth
TABLE 20 EVENT MONITORS MARKET, BY REGION, 2021–2028 (USD MILLION)
6.2.5 IMPLANTABLE LOOP RECORDERS
6.2.5.1 Introduction of technologically advanced implantable loop recorders to support market growth
TABLE 21 IMPLANTABLE LOOP RECORDERS MARKET, BY REGION, 2021–2028 (USD MILLION)
6.2.6 MOBILE CARDIAC TELEMETRY DEVICES
6.2.6.1 Increasing demand for cardiac monitoring solutions in home care settings to propel market
TABLE 22 MOBILE CARDIAC TELEMETRY DEVICES MARKET, BY REGION, 2021–2028 (USD MILLION)
6.2.7 SMART ECG MONITORS
6.2.7.1 Rising need to reduce treatment costs to drive adoption of smart/wearable ECG monitors
TABLE 23 SMART ECG MONITORS MARKET, BY REGION, 2021–2028 (USD MILLION)
6.3 SOFTWARE & SERVICES
6.3.1 SHIFT TOWARDS AI-ENABLED ECG SOFTWARE TO SUPPORT GROWTH
TABLE 24 DIAGNOSTIC ECG SOFTWARE & SERVICES MARKET, BY REGION, 2021–2028 (USD MILLION)
7 DIAGNOSTIC ECG MARKET, BY LEAD TYPE
7.1 INTRODUCTION
TABLE 25 DIAGNOSTIC ECG MARKET, BY LEAD TYPE, 2021–2028(USD MILLION)
7.2 12-LEAD ECG DEVICES
7.2.1 GROWING USE IN PRE-HOSPITAL AND CLINIC SETTINGS TO DRIVE MARKET GROWTH
TABLE 26 12-LEAD ECG DEVICES MARKET, BY REGION, 2021–2028(USD MILLION)
7.3 5-LEAD ECG DEVICES
7.3.1 GROWING IMPORTANCE OF PATIENT MONITORING TO BOOST ADOPTION
TABLE 27 5-LEAD ECG DEVICES MARKET, BY REGION, 2021–2028(USD MILLION)
7.4 3-LEAD ECG DEVICES
7.4.1 ABILITY TO MEET NEEDS OF MULTIPLE DIAGNOSTIC TESTS SIMULTANEOUSLY TO SUPPORT MARKET
TABLE 28 3-LEAD ECG DEVICES MARKET, BY REGION, 2021–2028(USD MILLION)
7.5 6-LEAD ECG DEVICES
7.5.1 GROWING USE OF 6-LEAD ECG DEVICES IN REMOTE PATIENT MONITORING TO FAVOR MARKET GROWTH
TABLE 29 6-LEAD ECG DEVICES MARKET, BY REGION, 2021–2028(USD MILLION)
7.6 SINGLE-LEAD ECG DEVICES
7.6.1 EASE OF USE FOR DIAGNOSIS AND QUICK RESULTS TO INCREASE USE OF SINGLE-LEAD ECG DEVICES
TABLE 30 SINGLE-LEAD ECG DEVICES MARKET, BY REGION, 2021–2028(USD MILLION)
7.7 OTHER ECG LEAD DEVICES
TABLE 31 OTHER ECG LEAD DEVICES MARKET, BY REGION, 2021–2028(USD MILLION)
8 DIAGNOSTIC ECG MARKET, BY END USER
8.1 INTRODUCTION
TABLE 32 DIAGNOSTIC ECG MARKET, BY END USER, 2021–2028 (USD MILLION)
8.2 HOSPITALS, CLINICS, AND CARDIAC CENTERS
8.2.1 INCREASING UTILIZATION OF ECG DEVICES IN HOSPITALS & CARDIAC CENTERS TO ACCELERATE MARKET GROWTH
TABLE 33 DIAGNOSTIC ECG MARKET FOR HOSPITALS, CLINICS, AND CARDIAC CENTERS, BY REGION, 2021–2028 (USD MILLION)
8.3 AMBULATORY SURGERY CENTERS
8.3.1 GROWING ADOPTION OF OUTPATIENT SURGERIES TO SUPPORT GROWTH
TABLE 34 DIAGNOSTIC ECG MARKET FOR AMBULATORY SURGERY CENTERS, BY REGION, 2021–2028 (USD MILLION)
8.4 OTHER END USERS
TABLE 35 DIAGNOSTIC ECG MARKET FOR OTHER END USERS, BY REGION, 2021–2028 (USD MILLION)
9 DIAGNOSTIC ECG MARKET, BY REGION
9.1 INTRODUCTION
TABLE 36 DIAGNOSTIC ECG MARKET, BY REGION, 2021–2028 (USD MILLION)
9.2 NORTH AMERICA
FIGURE 26 NORTH AMERICA: DIAGNOSTIC ECG MARKET SNAPSHOT
TABLE 37 NORTH AMERICA: DIAGNOSTIC ECG MARKET, BY COUNTRY, 2021–2028 (USD MILLION)
TABLE 38 NORTH AMERICA: DIAGNOSTIC ECG DEVICES MARKET, BY TYPE, 2021–2028 (USD MILLION)
TABLE 39 NORTH AMERICA: DIAGNOSTIC ECG MARKET, BY LEAD TYPE, 2021–2028 (USD MILLION)
TABLE 40 NORTH AMERICA: DIAGNOSTIC ECG MARKET, BY END USER, 2021–2028 (USD MILLION)
9.2.1 NORTH AMERICA: RECESSION IMPACT
9.2.2 US
9.2.2.1 Growing number of FDA approvals for ECG devices to support market growth
TABLE 41 US: DIAGNOSTIC ECG DEVICES MARKET, BY TYPE, 2021–2028 (USD MILLION)
9.2.3 CANADA
9.2.3.1 Growing focus of government and private organizations on providing funding for research to drive market growth
TABLE 42 CANADA: DIAGNOSTIC ECG DEVICES MARKET, BY TYPE, 2021–2028 (USD MILLION)
9.3 EUROPE
TABLE 43 EUROPE: DIAGNOSTIC ECG MARKET, BY COUNTRY, 2021–2028 (USD MILLION)
TABLE 44 EUROPE: DIAGNOSTIC ECG DEVICES MARKET, BY TYPE, 2021–2028 (USD MILLION)
TABLE 45 EUROPE: DIAGNOSTIC ECG MARKET, BY LEAD TYPE, 2021–2028 (USD MILLION)
TABLE 46 EUROPE: DIAGNOSTIC ECG MARKET, BY END USER, 2021–2028 (USD MILLION)
9.3.1 EUROPE: RECESSION IMPACT
9.3.2 GERMANY
9.3.2.1 Germany to dominate diagnostic ECG market in Europe during forecast period
TABLE 47 GERMANY: DIAGNOSTIC ECG DEVICES MARKET, BY TYPE, 2021–2028 (USD MILLION)
9.3.3 FRANCE
9.3.3.1 Rising prevalence of heart failure to drive adoption of diagnostic ECG devices
TABLE 48 FRANCE: DIAGNOSTIC ECG DEVICES MARKET, BY TYPE, 2021–2028 (USD MILLION)
9.3.4 UK
9.3.4.1 Rising demand for home-based smart ECG devices to support market growth.
TABLE 49 UK: DIAGNOSTIC ECG DEVICES MARKET, BY TYPE, 2021–2028 (USD MILLION)
9.3.5 ITALY
9.3.5.1 Rising incidence of heart diseases to increase use of diagnostic ECG devices
TABLE 50 ITALY: DIAGNOSTIC ECG DEVICES MARKET, BY TYPE, 2021–2028 (USD MILLION)
9.3.6 SPAIN
9.3.6.1 Rising geriatric population to support market growth in Spain
TABLE 51 SPAIN: DIAGNOSTIC ECG DEVICES MARKET, BY TYPE, 2021–2028 (USD MILLION)
9.3.7 REST OF EUROPE
TABLE 52 REST OF EUROPE: DIAGNOSTIC ECG DEVICES MARKET, BY TYPE, 2021–2028 (USD MILLION)
9.4 ASIA PACIFIC
FIGURE 27 ASIA PACIFIC: DIAGNOSTIC ECG MARKET SNAPSHOT
TABLE 53 ASIA PACIFIC: DIAGNOSTIC ECG MARKET, BY COUNTRY, 2021–2028 (USD MILLION)
TABLE 54 ASIA PACIFIC: DIAGNOSTIC ECG DEVICES MARKET, BY TYPE, 2021–2028 (USD MILLION)
TABLE 55 ASIA PACIFIC: DIAGNOSTIC ECG MARKET, BY LEAD TYPE, 2021–2028 (USD MILLION)
TABLE 56 ASIA PACIFIC: DIAGNOSTIC ECG MARKET, BY END USER, 2021–2028 (USD MILLION)
9.4.1 ASIA PACIFIC: RECESSION IMPACT
9.4.2 JAPAN
9.4.2.1 High healthcare expenditure and favorable reimbursement and insurance coverage to support market growth in Japan
TABLE 57 JAPAN: DIAGNOSTIC ECG DEVICES MARKET, BY TYPE, 2021–2028 (USD MILLION)
9.4.3 CHINA
9.4.3.1 Government support for infrastructural improvement to drive market growth
TABLE 58 CHINA: DIAGNOSTIC ECG DEVICES MARKET, BY TYPE, 2021–2028 (USD MILLION)
9.4.4 INDIA
9.4.4.1 Government initiatives to propel market growth
TABLE 59 INDIA: DIAGNOSTIC ECG DEVICES MARKET, BY TYPE, 2021–2028 (USD MILLION)
9.4.5 AUSTRALIA
9.4.5.1 Growing adoption of telemedicine and remote patient monitoring to boost market
TABLE 60 AUSTRALIA: DIAGNOSTIC ECG DEVICES MARKET, BY TYPE, 2021–2028 (USD MILLION)
9.4.6 SOUTH KOREA
9.4.6.1 Rising geriatric population to propel market growth
TABLE 61 SOUTH KOREA: DIAGNOSTIC ECG DEVICES MARKET, BY TYPE, 2021–2028 (USD MILLION)
9.4.7 REST OF ASIA PACIFIC
TABLE 62 REST OF ASIA PACIFIC: DIAGNOSTIC ECG DEVICES MARKET, BY TYPE, 2021–2028 (USD MILLION)
9.5 LATIN AMERICA
TABLE 63 LATIN AMERICA: DIAGNOSTIC ECG MARKET, BY COUNTRY, 2021–2028 (USD MILLION)
TABLE 64 LATIN AMERICA: DIAGNOSTIC ECG DEVICES MARKET, BY TYPE, 2021–2028 (USD MILLION)
TABLE 65 LATIN AMERICA: DIAGNOSTIC ECG MARKET, BY LEAD TYPE, 2021–2028 (USD MILLION)
TABLE 66 LATIN AMERICA: DIAGNOSTIC ECG MARKET, BY END USER, 2021–2028 (USD MILLION)
9.5.1 LATIN AMERICA: RECESSION IMPACT
9.5.2 BRAZIL
9.5.2.1 Improving access to diagnostic services to drive growth
TABLE 67 BRAZIL: DIAGNOSTIC ECG DEVICES MARKET, BY TYPE, 2021–2028 (USD MILLION)
9.5.3 MEXICO
9.5.3.1 Government support for infrastructural improvement to drive market growth
TABLE 68 MEXICO: DIAGNOSTIC ECG DEVICES MARKET, BY TYPE, 2021–2028 (USD MILLION)
9.5.4 REST OF LATIN AMERICA
TABLE 69 REST OF LATIN AMERICA: DIAGNOSTIC ECG DEVICES MARKET, BY TYPE, 2021–2028 (USD MILLION)
9.6 MIDDLE EAST & AFRICA
9.6.1 GROWING MEDICAL COVERAGE IN REGION TO SUPPORT GROWTH
TABLE 70 MIDDLE EAST & AFRICA: DIAGNOSTIC ECG DEVICES MARKET, BY TYPE, 2021–2028 (USD MILLION)
TABLE 71 MIDDLE EAST & AFRICA: DIAGNOSTIC ECG MARKET, BY LEAD TYPE, 2021–2028 (USD MILLION)
TABLE 72 MIDDLE EAST & AFRICA: DIAGNOSTIC ECG MARKET, BY END USER, 2021–2028 (USD MILLION)
9.6.2 MIDDLE EAST & AFRICA: RECESSION IMPACT
10 COMPETITIVE LANDSCAPE
10.1 OVERVIEW
10.2 STRATEGIES ADOPTED BY KEY PLAYERS
FIGURE 28 KEY DEVELOPMENTS IN DIAGNOSTIC ECG MARKET (2020–2023)
10.3 REVENUE SHARE ANALYSIS
FIGURE 29 REVENUE SHARE ANALYSIS OF TOP FIVE PLAYERS (2019–2022)
10.4 MARKET SHARE ANALYSIS
FIGURE 30 DIAGNOSTIC ECG MARKET SHARE ANALYSIS, BY KEY PLAYER, 2022
10.5 COMPANY EVALUATION MATRIX FOR KEY PLAYERS
10.5.1 STARS
10.5.2 PERVASIVE PLAYERS
10.5.3 EMERGING LEADERS
10.5.4 PARTICIPANTS
FIGURE 31 DIAGNOSTIC ECG MARKET: COMPANY EVALUATION MATRIX FOR KEY PLAYERS, 2022
10.6 COMPANY EVALUATION MATRIX FOR START-UPS/SMES
10.6.1 PROGRESSIVE COMPANIES
10.6.2 DYNAMIC COMPANIES
10.6.3 RESPONSIVE COMPANIES
10.6.4 STARTING BLOCKS
FIGURE 32 DIAGNOSTIC ECG MARKET: COMPANY EVALUATION MATRIX FOR START-UPS/SMES, 2022
10.7 COMPETITIVE BENCHMARKING
10.7.1 OVERALL COMPANY FOOTPRINT
TABLE 73 OVERALL FOOTPRINT ANALYSIS: DIAGNOSTIC ECG MARKET
10.7.2 COMPANY PRODUCT FOOTPRINT
TABLE 74 PRODUCT FOOTPRINT ANALYSIS: DIAGNOSTIC ECG MARKET
10.7.3 COMPANY REGIONAL FOOTPRINT
TABLE 75 REGIONAL FOOTPRINT ANALYSIS: DIAGNOSTIC ECG MARKET
10.8 COMPETITIVE SCENARIO (2020–2023)
10.8.1 PRODUCT LAUNCHES & APPROVALS
TABLE 76 DIAGNOSTIC ECG MARKET: KEY PRODUCT LAUNCHES & APPROVALS (JANUARY 2020–AUGUST 2023)
10.8.2 DEALS
TABLE 77 DIAGNOSTIC ECG MARKET: KEY DEALS (JANUARY 2020–AUGUST 2023)
10.8.3 OTHER DEVELOPMENTS
TABLE 78 DIAGNOSTIC ECG MARKET: OTHER DEVELOPMENTS (JANUARY 2020–AUGUST 2023)
11 COMPANY PROFILES
11.1 KEY PLAYERS
(Business Overview, Products Offered, Recent Developments, and MnM View (Key strengths/Right to Win, Strategic Choices Made, and Weaknesses and Competitive Threats))*
11.1.1 GE HEALTHCARE
TABLE 79 GE HEALTHCARE: COMPANY OVERVIEW
FIGURE 33 GE HEALTHCARE: COMPANY SNAPSHOT (2022)
11.1.2 KONINKLIJKE PHILIPS N.V.
TABLE 80 KONINKLIJKE PHILIPS N.V.: COMPANY OVERVIEW
FIGURE 34 KONINKLIJKE PHILIPS N.V.: COMPANY SNAPSHOT (2022)
11.1.3 HILL-ROM HOLDINGS, INC. (BAXTER INTERNATIONAL INC.)
TABLE 81 HILL-ROM HOLDINGS, INC.: COMPANY OVERVIEW
FIGURE 35 HILL-ROM HOLDINGS, INC.: COMPANY SNAPSHOT (2022)
11.1.4 FUKUDA DENSHI
TABLE 82 FUKUDA DENSHI: BUSINESS OVERVIEW
FIGURE 36 FUKUDA DENSHI: COMPANY SNAPSHOT (2022)
11.1.5 MINDRAY MEDICAL INTERNATIONAL LIMITED
TABLE 83 MINDRAY MEDICAL INTERNATIONAL LIMITED: BUSINESS OVERVIEW
FIGURE 37 MINDRAY MEDICAL INTERNATIONAL LIMITED: COMPANY SNAPSHOT (2021)
11.1.6 NIHON KOHDEN CORPORATION
TABLE 84 NIHON KOHDEN CORPORATION: COMPANY OVERVIEW
FIGURE 38 NIHON KOHDEN CORPORATION: COMPANY SNAPSHOT (2022)
11.1.7 OSI SYSTEMS, INC.
TABLE 85 OSI SYSTEMS, INC: BUSINESS OVERVIEW
FIGURE 39 OSI SYSTEMS, INC.: COMPANY SNAPSHOT (2022)
11.1.8 BPL MEDICAL TECHNOLOGIES
TABLE 86 BPL MEDICAL TECHNOLOGIES: BUSINESS OVERVIEW
11.1.9 SCHILLER AG
TABLE 87 SCHILLER AG: BUSINESS OVERVIEW
11.1.10 BITTIUM
TABLE 88 BITTIUM: BUSINESS OVERVIEW
FIGURE 40 BITTIUM: COMPANY SNAPSHOT (2022)
11.1.11 ACS DIAGNOSTICS
TABLE 89 ACS DIAGNOSTICS: BUSINESS OVERVIEW
11.1.12 ALLENGERS MEDICAL SYSTEMS LTD.
TABLE 90 ALLENGERS MEDICAL SYSTEMS LTD: BUSINESS OVERVIEW
11.1.13 BIONET
TABLE 91 BIONET: BUSINESS OVERVIEW
11.1.14 CARDIAC INSIGHT, INC.
TABLE 92 CARDIAC INSIGHT, INC.: BUSINESS OVERVIEW
11.1.15 BTL
TABLE 93 BTL: BUSINESS OVERVIEW
11.2 OTHER PLAYERS
11.2.1 MEDITECH EQUIPMENT CO. LTD.
11.2.2 MIDMARK CORPORATION
11.2.3 ALIVECOR, INC.
11.2.4 VITALCONNECT
11.2.5 IRHYTHM TECHNOLOGIES, INC.
11.2.6 BORSAM BIOMEDICAL INSTRUMENTS CO., LTD.
11.2.7 NASIFF ASSOCIATES, INC.
11.2.8 VECTRACOR
11.2.9 BIOMEDICAL INSTRUMENTS CO. LTD.
11.2.10 LIFESIGNALS, INC.
*Details on Business Overview, Products Offered, Recent Developments, and MnM View (Key strengths/Right to Win, Strategic Choices Made, and Weaknesses and Competitive Threats) might not be captured in case of unlisted companies.
12 APPENDIX
12.1 DISCUSSION GUIDE
12.2 KNOWLEDGESTORE: MARKETSANDMARKETS’ SUBSCRIPTION PORTAL
12.3 CUSTOMIZATION OPTIONS
12.4 RELATED REPORTS
12.5 AUTHOR DETAILS
1.1 STUDY OBJECTIVES
1.2 MARKET DEFINITION
1.2.1 INCLUSIONS & EXCLUSIONS
1.3 STUDY SCOPE
FIGURE 1 MARKETS COVERED
1.3.1 GEOGRAPHIC SCOPE
1.3.2 YEARS CONSIDERED
1.4 CURRENCY CONSIDERED
1.5 KEY MARKET STAKEHOLDERS
1.6 SUMMARY OF CHANGES
1.7 RECESSION IMPACT ON DIAGNOSTIC ECG MARKET
2 RESEARCH METHODOLOGY
2.1 RESEARCH DATA
FIGURE 2 RESEARCH DESIGN
2.1.1 SECONDARY DATA
2.1.2 PRIMARY RESEARCH
2.1.2.1 Key data from primary sources
FIGURE 3 BREAKDOWN OF PRIMARY INTERVIEWS: SUPPLY-SIDE AND DEMAND-SIDE PARTICIPANTS
FIGURE 4 DIAGNOSTIC ECG MARKET: BREAKDOWN OF PRIMARIES
2.2 MARKET SIZE ESTIMATION METHODOLOGY
FIGURE 5 RESEARCH METHODOLOGY: HYPOTHESIS BUILDING
2.2.1 PRODUCT-BASED MARKET ESTIMATION
2.2.2 END USER-BASED MARKET ESTIMATION
FIGURE 6 MARKET SIZE ESTIMATION: DIAGNOSTIC ECG MARKET
2.2.3 PRIMARY RESEARCH VALIDATION
2.3 DATA TRIANGULATION
FIGURE 7 DATA TRIANGULATION METHODOLOGY
2.4 RESEARCH ASSUMPTIONS AND LIMITATIONS
2.4.1 RESEARCH ASSUMPTIONS
2.4.2 RESEARCH LIMITATIONS
2.5 RECESSION IMPACT
TABLE 1 GLOBAL INFLATION RATE PROJECTIONS, 2021–2027 (% GROWTH)
3 EXECUTIVE SUMMARY
FIGURE 8 DIAGNOSTIC ECG MARKET, BY PRODUCT, 2023 VS. 2028 (USD MILLION)
FIGURE 9 DIAGNOSTIC ECG MARKET, BY LEAD TYPE, 2023 VS. 2028 (USD MILLION)
FIGURE 10 DIAGNOSTIC ECG MARKET, BY END USER, 2023 VS. 2028 (USD MILLION)
FIGURE 11 GEOGRAPHICAL SNAPSHOT OF DIAGNOSTIC ECG MARKET
4 PREMIUM INSIGHTS
4.1 DIAGNOSTIC ECG MARKET OVERVIEW
FIGURE 12 INCREASING PREVALENCE OF CVD GLOBALLY TO DRIVE MARKET GROWTH
4.2 NORTH AMERICA: DIAGNOSTIC ECG MARKET SHARE, BY PRODUCT & COUNTRY (2022)
FIGURE 13 DEVICES SEGMENT ACCOUNTED FOR LARGEST SHARE OF NORTH AMERICAN DIAGNOSTIC ECG MARKET IN 2022
4.3 DIAGNOSTIC ECG DEVICES MARKET SHARE, BY TYPE, 2023 VS. 2028
FIGURE 14 RESTING ECG DEVICES TO CAPTURE LARGEST SHARE OF DIAGNOSTIC ECG DEVICES MARKET IN 2022
4.4 DIAGNOSTIC ECG MARKET, BY LEAD TYPE, 2023 VS. 2028 (USD MILLION)
FIGURE 15 12-LEAD ECG DEVICES SEGMENT TO CONTINUE TO DOMINATE MARKET IN 2028
4.5 DIAGNOSTIC ECG MARKET, BY END USER, 2023 VS. 2028 (USD MILLION)
FIGURE 16 HOSPITALS, CLINICS, AND CARDIAC CENTERS SEGMENT TO DOMINATE MARKET IN 2028
4.6 DIAGNOSTIC ECG MARKET: GEOGRAPHIC GROWTH OPPORTUNITIES
FIGURE 17 CHINA TO REGISTER HIGHEST GROWTH IN DIAGNOSTIC ECG MARKET FROM 2023 TO 2028
5 MARKET OVERVIEW
5.1 INTRODUCTION
5.2 MARKET DYNAMICS
FIGURE 18 DIAGNOSTIC ECG MARKET: DRIVERS, RESTRAINTS, OPPORTUNITIES, AND CHALLENGES
5.2.1 DRIVERS
5.2.1.1 Increasing incidence of lifestyle and cardiovascular diseases
5.2.1.2 Rapidly expanding global geriatric population and subsequent surge in heart conditions
5.2.1.3 Development of wireless monitoring and wearable cardiac devices
5.2.1.4 Increasing investments, funds, and grants for research on cardiac diagnosis
5.2.2 RESTRAINTS
5.2.2.1 Stringent regulatory requirements delaying approval of cardiac devices
5.2.3 OPPORTUNITIES
5.2.3.1 Emerging markets to offer high-growth opportunities
5.2.4 CHALLENGES
5.2.4.1 Dearth of skilled professionals
5.3 PRICING ANALYSIS
TABLE 2 AVERAGE SELLING PRICE OF DIAGNOSTIC ECG MONITORING PRODUCTS (2022)
5.4 PATENT ANALYSIS
FIGURE 19 PATENT ANALYSIS FOR DIAGNOSTIC ECG MARKET
5.5 VALUE CHAIN ANALYSIS
FIGURE 20 VALUE CHAIN ANALYSIS OF DIAGNOSTIC ECG MARKET: MAJOR VALUE ADDED DURING MANUFACTURING AND ASSEMBLY PHASES
5.6 SUPPLY CHAIN ANALYSIS
FIGURE 21 DIAGNOSTIC ECG MARKET: SUPPLY CHAIN ANALYSIS
5.7 ECOSYSTEM ANALYSIS
FIGURE 22 DIAGNOSTIC ECG MARKET: ECOSYSTEM ANALYSIS
5.8 PORTER’S FIVE FORCES ANALYSIS
TABLE 3 DIAGNOSTIC ECG MARKET: PORTER’S FIVE FORCES ANALYSIS
5.8.1 THREAT OF NEW ENTRANTS
5.8.2 THREAT OF SUBSTITUTES
5.8.3 BARGAINING POWER OF BUYERS
5.8.4 BARGAINING POWER OF SUPPLIERS
5.8.5 INTENSITY OF COMPETITIVE RIVALRY
5.9 REIMBURSEMENT SCENARIO
TABLE 4 CPT CODES FOR ECG PROCEDURES
5.10 REGULATORY ANALYSIS
TABLE 5 NORTH AMERICA: REGULATORY BODIES, GOVERNMENT AGENCIES, AND OTHER ORGANIZATIONS
TABLE 6 EUROPE: REGULATORY BODIES, GOVERNMENT AGENCIES, AND OTHER ORGANIZATIONS
TABLE 7 ASIA PACIFIC: REGULATORY BODIES, GOVERNMENT AGENCIES, AND OTHER ORGANIZATIONS
TABLE 8 LATIN AMERICA: REGULATORY BODIES, GOVERNMENT AGENCIES, AND OTHER ORGANIZATIONS
TABLE 9 REST OF THE WORLD: REGULATORY BODIES, GOVERNMENT AGENCIES, AND OTHER ORGANIZATIONS
5.10.1 NORTH AMERICA
5.10.1.1 US
5.10.1.2 Canada
5.10.2 EUROPE
5.10.3 ASIA PACIFIC
5.10.3.1 China
5.10.3.2 Japan
5.10.3.3 India
5.10.4 LATIN AMERICA
5.10.4.1 Brazil
5.10.4.2 Mexico
5.10.5 MIDDLE EAST
5.10.6 AFRICA
5.11 TRADE ANALYSIS
5.11.1 TRADE ANALYSIS FOR DIAGNOSTIC ECG PRODUCTS
TABLE 10 IMPORT DATA FOR DIAGNOSTIC ECG PRODUCTS, BY COUNTRY, 2018–2022 (USD MILLION)
TABLE 11 EXPORT DATA FOR DIAGNOSTIC ECG PRODUCTS, BY COUNTRY, 2018–2022 (USD MILLION)
5.12 TECHNOLOGY ANALYSIS
5.13 KEY CONFERENCES & EVENTS, 2023–2024
TABLE 12 DIAGNOSTIC ECG MARKET: DETAILED LIST OF CONFERENCES & EVENTS
5.14 TRENDS/DISRUPTIONS IMPACTING CUSTOMERS’ BUSINESSES
5.14.1 REVENUE SHIFT AND REVENUE POCKETS FOR DIAGNOSTIC ECG MONITOR MANUFACTURERS
FIGURE 23 REVENUE SHIFT IN DIAGNOSTIC ECG MARKET
5.15 KEY STAKEHOLDERS & BUYING CRITERIA
5.15.1 KEY STAKEHOLDERS IN BUYING PROCESS
FIGURE 24 INFLUENCE OF STAKEHOLDERS ON BUYING PROCESS FOR DIAGNOSTIC ECG PRODUCTS
TABLE 13 INFLUENCE OF STAKEHOLDERS ON BUYING PROCESS FOR DIAGNOSTIC ECG PRODUCTS
5.15.2 BUYING CRITERIA
FIGURE 25 KEY BUYING CRITERIA FOR DIAGNOSTIC ECG PRODUCTS
TABLE 14 KEY BUYING CRITERIA FOR DIAGNOSTIC ECG PRODUCTS
6 DIAGNOSTIC ECG MARKET, BY PRODUCT
6.1 INTRODUCTION
TABLE 15 DIAGNOSTIC ECG MARKET, BY PRODUCT, 2021–2028 (USD MILLION)
6.2 DEVICES
TABLE 16 DIAGNOSTIC ECG DEVICES MARKET, BY TYPE, 2021–2028 (USD MILLION)
6.2.1 RESTING ECG DEVICES
6.2.1.1 Wide availability of resting ECG devices to support market growth
TABLE 17 RESTING ECG DEVICES MARKET, BY REGION, 2021–2028 (USD MILLION)
6.2.2 STRESS ECG DEVICES
6.2.2.1 High cost of stress ECG devices to limit adoption
TABLE 18 STRESS ECG DEVICES MARKET, BY REGION, 2021–2028 (USD MILLION)
6.2.3 HOLTER MONITORS
6.2.3.1 Growing demand for continuous monitoring to fuel growth
TABLE 19 HOLTER MONITORS MARKET, BY REGION, 2021–2028 (USD MILLION)
6.2.4 EVENT MONITORS
6.2.4.1 Increasing outsourcing of monitoring devices to propel market growth
TABLE 20 EVENT MONITORS MARKET, BY REGION, 2021–2028 (USD MILLION)
6.2.5 IMPLANTABLE LOOP RECORDERS
6.2.5.1 Introduction of technologically advanced implantable loop recorders to support market growth
TABLE 21 IMPLANTABLE LOOP RECORDERS MARKET, BY REGION, 2021–2028 (USD MILLION)
6.2.6 MOBILE CARDIAC TELEMETRY DEVICES
6.2.6.1 Increasing demand for cardiac monitoring solutions in home care settings to propel market
TABLE 22 MOBILE CARDIAC TELEMETRY DEVICES MARKET, BY REGION, 2021–2028 (USD MILLION)
6.2.7 SMART ECG MONITORS
6.2.7.1 Rising need to reduce treatment costs to drive adoption of smart/wearable ECG monitors
TABLE 23 SMART ECG MONITORS MARKET, BY REGION, 2021–2028 (USD MILLION)
6.3 SOFTWARE & SERVICES
6.3.1 SHIFT TOWARDS AI-ENABLED ECG SOFTWARE TO SUPPORT GROWTH
TABLE 24 DIAGNOSTIC ECG SOFTWARE & SERVICES MARKET, BY REGION, 2021–2028 (USD MILLION)
7 DIAGNOSTIC ECG MARKET, BY LEAD TYPE
7.1 INTRODUCTION
TABLE 25 DIAGNOSTIC ECG MARKET, BY LEAD TYPE, 2021–2028(USD MILLION)
7.2 12-LEAD ECG DEVICES
7.2.1 GROWING USE IN PRE-HOSPITAL AND CLINIC SETTINGS TO DRIVE MARKET GROWTH
TABLE 26 12-LEAD ECG DEVICES MARKET, BY REGION, 2021–2028(USD MILLION)
7.3 5-LEAD ECG DEVICES
7.3.1 GROWING IMPORTANCE OF PATIENT MONITORING TO BOOST ADOPTION
TABLE 27 5-LEAD ECG DEVICES MARKET, BY REGION, 2021–2028(USD MILLION)
7.4 3-LEAD ECG DEVICES
7.4.1 ABILITY TO MEET NEEDS OF MULTIPLE DIAGNOSTIC TESTS SIMULTANEOUSLY TO SUPPORT MARKET
TABLE 28 3-LEAD ECG DEVICES MARKET, BY REGION, 2021–2028(USD MILLION)
7.5 6-LEAD ECG DEVICES
7.5.1 GROWING USE OF 6-LEAD ECG DEVICES IN REMOTE PATIENT MONITORING TO FAVOR MARKET GROWTH
TABLE 29 6-LEAD ECG DEVICES MARKET, BY REGION, 2021–2028(USD MILLION)
7.6 SINGLE-LEAD ECG DEVICES
7.6.1 EASE OF USE FOR DIAGNOSIS AND QUICK RESULTS TO INCREASE USE OF SINGLE-LEAD ECG DEVICES
TABLE 30 SINGLE-LEAD ECG DEVICES MARKET, BY REGION, 2021–2028(USD MILLION)
7.7 OTHER ECG LEAD DEVICES
TABLE 31 OTHER ECG LEAD DEVICES MARKET, BY REGION, 2021–2028(USD MILLION)
8 DIAGNOSTIC ECG MARKET, BY END USER
8.1 INTRODUCTION
TABLE 32 DIAGNOSTIC ECG MARKET, BY END USER, 2021–2028 (USD MILLION)
8.2 HOSPITALS, CLINICS, AND CARDIAC CENTERS
8.2.1 INCREASING UTILIZATION OF ECG DEVICES IN HOSPITALS & CARDIAC CENTERS TO ACCELERATE MARKET GROWTH
TABLE 33 DIAGNOSTIC ECG MARKET FOR HOSPITALS, CLINICS, AND CARDIAC CENTERS, BY REGION, 2021–2028 (USD MILLION)
8.3 AMBULATORY SURGERY CENTERS
8.3.1 GROWING ADOPTION OF OUTPATIENT SURGERIES TO SUPPORT GROWTH
TABLE 34 DIAGNOSTIC ECG MARKET FOR AMBULATORY SURGERY CENTERS, BY REGION, 2021–2028 (USD MILLION)
8.4 OTHER END USERS
TABLE 35 DIAGNOSTIC ECG MARKET FOR OTHER END USERS, BY REGION, 2021–2028 (USD MILLION)
9 DIAGNOSTIC ECG MARKET, BY REGION
9.1 INTRODUCTION
TABLE 36 DIAGNOSTIC ECG MARKET, BY REGION, 2021–2028 (USD MILLION)
9.2 NORTH AMERICA
FIGURE 26 NORTH AMERICA: DIAGNOSTIC ECG MARKET SNAPSHOT
TABLE 37 NORTH AMERICA: DIAGNOSTIC ECG MARKET, BY COUNTRY, 2021–2028 (USD MILLION)
TABLE 38 NORTH AMERICA: DIAGNOSTIC ECG DEVICES MARKET, BY TYPE, 2021–2028 (USD MILLION)
TABLE 39 NORTH AMERICA: DIAGNOSTIC ECG MARKET, BY LEAD TYPE, 2021–2028 (USD MILLION)
TABLE 40 NORTH AMERICA: DIAGNOSTIC ECG MARKET, BY END USER, 2021–2028 (USD MILLION)
9.2.1 NORTH AMERICA: RECESSION IMPACT
9.2.2 US
9.2.2.1 Growing number of FDA approvals for ECG devices to support market growth
TABLE 41 US: DIAGNOSTIC ECG DEVICES MARKET, BY TYPE, 2021–2028 (USD MILLION)
9.2.3 CANADA
9.2.3.1 Growing focus of government and private organizations on providing funding for research to drive market growth
TABLE 42 CANADA: DIAGNOSTIC ECG DEVICES MARKET, BY TYPE, 2021–2028 (USD MILLION)
9.3 EUROPE
TABLE 43 EUROPE: DIAGNOSTIC ECG MARKET, BY COUNTRY, 2021–2028 (USD MILLION)
TABLE 44 EUROPE: DIAGNOSTIC ECG DEVICES MARKET, BY TYPE, 2021–2028 (USD MILLION)
TABLE 45 EUROPE: DIAGNOSTIC ECG MARKET, BY LEAD TYPE, 2021–2028 (USD MILLION)
TABLE 46 EUROPE: DIAGNOSTIC ECG MARKET, BY END USER, 2021–2028 (USD MILLION)
9.3.1 EUROPE: RECESSION IMPACT
9.3.2 GERMANY
9.3.2.1 Germany to dominate diagnostic ECG market in Europe during forecast period
TABLE 47 GERMANY: DIAGNOSTIC ECG DEVICES MARKET, BY TYPE, 2021–2028 (USD MILLION)
9.3.3 FRANCE
9.3.3.1 Rising prevalence of heart failure to drive adoption of diagnostic ECG devices
TABLE 48 FRANCE: DIAGNOSTIC ECG DEVICES MARKET, BY TYPE, 2021–2028 (USD MILLION)
9.3.4 UK
9.3.4.1 Rising demand for home-based smart ECG devices to support market growth.
TABLE 49 UK: DIAGNOSTIC ECG DEVICES MARKET, BY TYPE, 2021–2028 (USD MILLION)
9.3.5 ITALY
9.3.5.1 Rising incidence of heart diseases to increase use of diagnostic ECG devices
TABLE 50 ITALY: DIAGNOSTIC ECG DEVICES MARKET, BY TYPE, 2021–2028 (USD MILLION)
9.3.6 SPAIN
9.3.6.1 Rising geriatric population to support market growth in Spain
TABLE 51 SPAIN: DIAGNOSTIC ECG DEVICES MARKET, BY TYPE, 2021–2028 (USD MILLION)
9.3.7 REST OF EUROPE
TABLE 52 REST OF EUROPE: DIAGNOSTIC ECG DEVICES MARKET, BY TYPE, 2021–2028 (USD MILLION)
9.4 ASIA PACIFIC
FIGURE 27 ASIA PACIFIC: DIAGNOSTIC ECG MARKET SNAPSHOT
TABLE 53 ASIA PACIFIC: DIAGNOSTIC ECG MARKET, BY COUNTRY, 2021–2028 (USD MILLION)
TABLE 54 ASIA PACIFIC: DIAGNOSTIC ECG DEVICES MARKET, BY TYPE, 2021–2028 (USD MILLION)
TABLE 55 ASIA PACIFIC: DIAGNOSTIC ECG MARKET, BY LEAD TYPE, 2021–2028 (USD MILLION)
TABLE 56 ASIA PACIFIC: DIAGNOSTIC ECG MARKET, BY END USER, 2021–2028 (USD MILLION)
9.4.1 ASIA PACIFIC: RECESSION IMPACT
9.4.2 JAPAN
9.4.2.1 High healthcare expenditure and favorable reimbursement and insurance coverage to support market growth in Japan
TABLE 57 JAPAN: DIAGNOSTIC ECG DEVICES MARKET, BY TYPE, 2021–2028 (USD MILLION)
9.4.3 CHINA
9.4.3.1 Government support for infrastructural improvement to drive market growth
TABLE 58 CHINA: DIAGNOSTIC ECG DEVICES MARKET, BY TYPE, 2021–2028 (USD MILLION)
9.4.4 INDIA
9.4.4.1 Government initiatives to propel market growth
TABLE 59 INDIA: DIAGNOSTIC ECG DEVICES MARKET, BY TYPE, 2021–2028 (USD MILLION)
9.4.5 AUSTRALIA
9.4.5.1 Growing adoption of telemedicine and remote patient monitoring to boost market
TABLE 60 AUSTRALIA: DIAGNOSTIC ECG DEVICES MARKET, BY TYPE, 2021–2028 (USD MILLION)
9.4.6 SOUTH KOREA
9.4.6.1 Rising geriatric population to propel market growth
TABLE 61 SOUTH KOREA: DIAGNOSTIC ECG DEVICES MARKET, BY TYPE, 2021–2028 (USD MILLION)
9.4.7 REST OF ASIA PACIFIC
TABLE 62 REST OF ASIA PACIFIC: DIAGNOSTIC ECG DEVICES MARKET, BY TYPE, 2021–2028 (USD MILLION)
9.5 LATIN AMERICA
TABLE 63 LATIN AMERICA: DIAGNOSTIC ECG MARKET, BY COUNTRY, 2021–2028 (USD MILLION)
TABLE 64 LATIN AMERICA: DIAGNOSTIC ECG DEVICES MARKET, BY TYPE, 2021–2028 (USD MILLION)
TABLE 65 LATIN AMERICA: DIAGNOSTIC ECG MARKET, BY LEAD TYPE, 2021–2028 (USD MILLION)
TABLE 66 LATIN AMERICA: DIAGNOSTIC ECG MARKET, BY END USER, 2021–2028 (USD MILLION)
9.5.1 LATIN AMERICA: RECESSION IMPACT
9.5.2 BRAZIL
9.5.2.1 Improving access to diagnostic services to drive growth
TABLE 67 BRAZIL: DIAGNOSTIC ECG DEVICES MARKET, BY TYPE, 2021–2028 (USD MILLION)
9.5.3 MEXICO
9.5.3.1 Government support for infrastructural improvement to drive market growth
TABLE 68 MEXICO: DIAGNOSTIC ECG DEVICES MARKET, BY TYPE, 2021–2028 (USD MILLION)
9.5.4 REST OF LATIN AMERICA
TABLE 69 REST OF LATIN AMERICA: DIAGNOSTIC ECG DEVICES MARKET, BY TYPE, 2021–2028 (USD MILLION)
9.6 MIDDLE EAST & AFRICA
9.6.1 GROWING MEDICAL COVERAGE IN REGION TO SUPPORT GROWTH
TABLE 70 MIDDLE EAST & AFRICA: DIAGNOSTIC ECG DEVICES MARKET, BY TYPE, 2021–2028 (USD MILLION)
TABLE 71 MIDDLE EAST & AFRICA: DIAGNOSTIC ECG MARKET, BY LEAD TYPE, 2021–2028 (USD MILLION)
TABLE 72 MIDDLE EAST & AFRICA: DIAGNOSTIC ECG MARKET, BY END USER, 2021–2028 (USD MILLION)
9.6.2 MIDDLE EAST & AFRICA: RECESSION IMPACT
10 COMPETITIVE LANDSCAPE
10.1 OVERVIEW
10.2 STRATEGIES ADOPTED BY KEY PLAYERS
FIGURE 28 KEY DEVELOPMENTS IN DIAGNOSTIC ECG MARKET (2020–2023)
10.3 REVENUE SHARE ANALYSIS
FIGURE 29 REVENUE SHARE ANALYSIS OF TOP FIVE PLAYERS (2019–2022)
10.4 MARKET SHARE ANALYSIS
FIGURE 30 DIAGNOSTIC ECG MARKET SHARE ANALYSIS, BY KEY PLAYER, 2022
10.5 COMPANY EVALUATION MATRIX FOR KEY PLAYERS
10.5.1 STARS
10.5.2 PERVASIVE PLAYERS
10.5.3 EMERGING LEADERS
10.5.4 PARTICIPANTS
FIGURE 31 DIAGNOSTIC ECG MARKET: COMPANY EVALUATION MATRIX FOR KEY PLAYERS, 2022
10.6 COMPANY EVALUATION MATRIX FOR START-UPS/SMES
10.6.1 PROGRESSIVE COMPANIES
10.6.2 DYNAMIC COMPANIES
10.6.3 RESPONSIVE COMPANIES
10.6.4 STARTING BLOCKS
FIGURE 32 DIAGNOSTIC ECG MARKET: COMPANY EVALUATION MATRIX FOR START-UPS/SMES, 2022
10.7 COMPETITIVE BENCHMARKING
10.7.1 OVERALL COMPANY FOOTPRINT
TABLE 73 OVERALL FOOTPRINT ANALYSIS: DIAGNOSTIC ECG MARKET
10.7.2 COMPANY PRODUCT FOOTPRINT
TABLE 74 PRODUCT FOOTPRINT ANALYSIS: DIAGNOSTIC ECG MARKET
10.7.3 COMPANY REGIONAL FOOTPRINT
TABLE 75 REGIONAL FOOTPRINT ANALYSIS: DIAGNOSTIC ECG MARKET
10.8 COMPETITIVE SCENARIO (2020–2023)
10.8.1 PRODUCT LAUNCHES & APPROVALS
TABLE 76 DIAGNOSTIC ECG MARKET: KEY PRODUCT LAUNCHES & APPROVALS (JANUARY 2020–AUGUST 2023)
10.8.2 DEALS
TABLE 77 DIAGNOSTIC ECG MARKET: KEY DEALS (JANUARY 2020–AUGUST 2023)
10.8.3 OTHER DEVELOPMENTS
TABLE 78 DIAGNOSTIC ECG MARKET: OTHER DEVELOPMENTS (JANUARY 2020–AUGUST 2023)
11 COMPANY PROFILES
11.1 KEY PLAYERS
(Business Overview, Products Offered, Recent Developments, and MnM View (Key strengths/Right to Win, Strategic Choices Made, and Weaknesses and Competitive Threats))*
11.1.1 GE HEALTHCARE
TABLE 79 GE HEALTHCARE: COMPANY OVERVIEW
FIGURE 33 GE HEALTHCARE: COMPANY SNAPSHOT (2022)
11.1.2 KONINKLIJKE PHILIPS N.V.
TABLE 80 KONINKLIJKE PHILIPS N.V.: COMPANY OVERVIEW
FIGURE 34 KONINKLIJKE PHILIPS N.V.: COMPANY SNAPSHOT (2022)
11.1.3 HILL-ROM HOLDINGS, INC. (BAXTER INTERNATIONAL INC.)
TABLE 81 HILL-ROM HOLDINGS, INC.: COMPANY OVERVIEW
FIGURE 35 HILL-ROM HOLDINGS, INC.: COMPANY SNAPSHOT (2022)
11.1.4 FUKUDA DENSHI
TABLE 82 FUKUDA DENSHI: BUSINESS OVERVIEW
FIGURE 36 FUKUDA DENSHI: COMPANY SNAPSHOT (2022)
11.1.5 MINDRAY MEDICAL INTERNATIONAL LIMITED
TABLE 83 MINDRAY MEDICAL INTERNATIONAL LIMITED: BUSINESS OVERVIEW
FIGURE 37 MINDRAY MEDICAL INTERNATIONAL LIMITED: COMPANY SNAPSHOT (2021)
11.1.6 NIHON KOHDEN CORPORATION
TABLE 84 NIHON KOHDEN CORPORATION: COMPANY OVERVIEW
FIGURE 38 NIHON KOHDEN CORPORATION: COMPANY SNAPSHOT (2022)
11.1.7 OSI SYSTEMS, INC.
TABLE 85 OSI SYSTEMS, INC: BUSINESS OVERVIEW
FIGURE 39 OSI SYSTEMS, INC.: COMPANY SNAPSHOT (2022)
11.1.8 BPL MEDICAL TECHNOLOGIES
TABLE 86 BPL MEDICAL TECHNOLOGIES: BUSINESS OVERVIEW
11.1.9 SCHILLER AG
TABLE 87 SCHILLER AG: BUSINESS OVERVIEW
11.1.10 BITTIUM
TABLE 88 BITTIUM: BUSINESS OVERVIEW
FIGURE 40 BITTIUM: COMPANY SNAPSHOT (2022)
11.1.11 ACS DIAGNOSTICS
TABLE 89 ACS DIAGNOSTICS: BUSINESS OVERVIEW
11.1.12 ALLENGERS MEDICAL SYSTEMS LTD.
TABLE 90 ALLENGERS MEDICAL SYSTEMS LTD: BUSINESS OVERVIEW
11.1.13 BIONET
TABLE 91 BIONET: BUSINESS OVERVIEW
11.1.14 CARDIAC INSIGHT, INC.
TABLE 92 CARDIAC INSIGHT, INC.: BUSINESS OVERVIEW
11.1.15 BTL
TABLE 93 BTL: BUSINESS OVERVIEW
11.2 OTHER PLAYERS
11.2.1 MEDITECH EQUIPMENT CO. LTD.
11.2.2 MIDMARK CORPORATION
11.2.3 ALIVECOR, INC.
11.2.4 VITALCONNECT
11.2.5 IRHYTHM TECHNOLOGIES, INC.
11.2.6 BORSAM BIOMEDICAL INSTRUMENTS CO., LTD.
11.2.7 NASIFF ASSOCIATES, INC.
11.2.8 VECTRACOR
11.2.9 BIOMEDICAL INSTRUMENTS CO. LTD.
11.2.10 LIFESIGNALS, INC.
*Details on Business Overview, Products Offered, Recent Developments, and MnM View (Key strengths/Right to Win, Strategic Choices Made, and Weaknesses and Competitive Threats) might not be captured in case of unlisted companies.
12 APPENDIX
12.1 DISCUSSION GUIDE
12.2 KNOWLEDGESTORE: MARKETSANDMARKETS’ SUBSCRIPTION PORTAL
12.3 CUSTOMIZATION OPTIONS
12.4 RELATED REPORTS
12.5 AUTHOR DETAILS
The global Diagnostic ECG Market is estimated to reach $5,435 million by 2020 at a high CAGR during the forecast period. The factors driving this market include the increasing geriatric population, rising incidences of lifestyle diseases, technological advancements in diagnostic ECG devices, and high growth rate in developing countries. The factors restraining this market include the unstable reimbursement regulations, economic instability, and market saturation in the developed countries.
The global diagnostic ECG market by product is divided into three major segments, namely, resting system, stress system, and Holter monitor system. In 2013, the resting system segment was the leading market segment. The resting system ECG market captured the largest market share in 2013 while the Holter monitor system ECG will grow at a fast pace in the forecast period.
In terms of lead type the global market is categorized as single-lead, 3-6 lead, 12 lead. The 3-6 lead segment accounted for the largest market share in 2013, followed by 12 lead. The 3-6 lead segment is expected to attain the leadership position in the forecast period.
North America commanded the largest share in the diagnostic ECG market in 2013 and is expected to grow from 2013 to 2020, at a high CAGR. The primary growth driver for North America is the extending population size of the elderly and the rising lifestyle diseases. Europe accounted for the second largest market share in 2013. In the forecast period, the growth of the European region will be slow due to the sluggish economic growth in the region. Asia-Pacific (APAC), on the other hand, will be the main focus of the market in the coming five years that will register high growth rates for all the segments.
The key players in the global diagnostic ECG market are GE Healthcare (U.K.), Philips Healthcare (Netherlands), Mindray Medical (China), Mortara Instrument Inc. (U.S.), Spacelabs Healthcare (U.S), Schiller AG (Switzerland), Cardionet (U.S.), Compumed Inc. (U.S.), Nihon Kohden Corporation (Japan), and Welch Allyn (U.S.).
